Souq.com issued a press release earlier today where they confirmed they’ve reached an agreement with Amazon. Souq.com is the biggest e-commerce marketplace in the Middle East and is often referred to as “the Amazon of the Middle East”. Techcrunch reported that the deal may be at around $650 million. Now we wait and see if we’re going to get an amazon.ae soon or souq.com will remain as is.
A week ago, Dubai’s Emaar Malls made an $800 million offer for regional online retailer Souq.com in an attempt to set up a potential bidding war with Amazon.
Check out the [PR] and congrats to the Souq.com team!